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Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
 The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It continues to this day as the effects of the disaster ripple through local communities and the shipping industry.
As most of us are aware, Vale is the world’s largest producer of iron ore, and runs several deep-draft ports in Brazil as well as Indonesia, Malaysia and Oman, equipped to receive Valemax ships, the biggest mineral vessels in the world, with capacity for 400,000 tonnes of ore. The company charters Capesizes and Very Large Ore Carriers (VLOCs) and its fleet primarily services the Asian energy needs.
This is actually the second dam collapse incident Vale saw in less than four years. Back in 2015 a larger dam, Samarco Mineracao SA, a joint venture between Vale and BHP, collapsed claiming the lives of 19 people and creating a major environmental disaster. So coming just a few years after a similar disaster in the same state, the Brumadinho collapse enraged many in Brazil, particularly when everyone found out that Vale had earlier received warnings about its fragile state.
The crisis at Vale is already rippling worldwide with strong effects on the iron ore markets and the Capesize segment. The price of iron ore last week surpassed $90 a tonne amid concerns that the closure of Vale’s dams could provoke a supply crunch. The company itself said it would sell a maximum of 330m tonnes of the raw material this year. Last year Vale produced 380m tonnes.
Tailings dams are cheap and obviously risky. The upstream sort have been banned in Chile and are very rare in America and Europe. Their widespread use in Brazil is one way the government helps mining firms. Miners such as Vale in particular, are obviously favoured because they often shoulder the responsibilities of governments in remote places, building schools and hospitals, for example. In Minas Gerais (literally, “General Mines”), the state where Brumadinho is located, Vale often dominates local economies as we can all understand.
This disaster weighed heavily on the market for big Capes, with still a lot of uncertainty about shipments/future exports leading to a sharp drop in rates. The miners had largely been absent from the market recently, with just a handful of other player in the region with large iron ore cargoes to move. Rates are expected to still experience a significant pressure moving forward. It is quite a unique situation and it is interesting to see it’s future dynamics in the Capesize sector.
By Christopher Whitty
Director, Towage and Port Agency Division
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 28 August 18
SUPRAMAX: A COAL TRIP VIA INDONESIA PAID $13,500 ON A 56,000DWT TO WC INDIA - BALTIC BRIEFING
Capesize
The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a la ...
Tuesday, 28 August 18
SHIPPING MARKET UPDATE - GEORGE LAZARIDIS
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarte ...
Friday, 24 August 18
KOREAN RESTRICTIONS ON COAL SULPHUR IMPACTING HUNTER EXPORTS - THE HERALD
WARNINGS that Korean restrictions on sulphur levels in coal could hurt the Hunter industry appear to have been accurate, according to a report in t ...
Thursday, 23 August 18
RUSSIA'S MECHEL PRODUCED 9.69 MMT OF RUN-OF-MINE COAL IN 1H'2018
Mechel PAO, one of the leading Russian mining and metals companies, announces 1H2018 operational results.
Mechel PAO’s Chief E ...
Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
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Showing 1636 to 1640 news of total 6871 |
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- Economic Council, Georgia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
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